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Nov 28, 2007 14:33 EEST
November 28 (SeeNews) - Macedonia's central bank, NBRM, on Wednesday absorbed 5.496 billion denars ($132.9 million/90.2 million euro) in 28-day repo funds from the banking system.
The central bank bought the repo funds at an average interest rate of 4.74% the NBRM said in a statement. The repo rate rose by 0.02 percentage points from the previous auction, held on November 21.
Commercial banks placed bids for 5.496 billion denars and the Finance Ministry approved all bids.
The central bank auctions 28-day repo funds each week, usually on Wednesdays. It sometimes alternates the periods of the repo fund offers from 28 days to 27 or 29 days. The minimum bid for banks at the repo auctions is set at one million denars.
Since the beginning of the year the NBRM has absorbed over 110 billion denars in repo deals.
(1 euro = 60.9201 Macedonian denars)
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